Business

Coming in from the cold

Article Abstract:

Mongolia is making a transition from communism to democracy and capitalism. A former satellite state of the Soviet Union, it received the first round of 'shock therapy' in 1990 that involved privatization and the formation of a stock exchange. However, the Russians suddenly terminated all subsidies, thereby derailing the reform initiative. The second round of economic reform was implemented in the middle of the 1990s, which involved the deregulation of the energy sector, the abolition of import tariffs and more privatization of state agencies. Although poverty and unemployment remain rampant in Mongolia, the reform initiatives have succeeded to some extent. Inflation is down from 320% in 1992 to almost single figures in 1998 and GDP growth was 3.3% in 1998. The IMF also reports that it is meeting budgetary targets. Its copper and cashmere industries were severely hit by the global economic crisis but its tourist sector may prove to be a major factor for growth.

Getting a head start: Headhunters don't just pick potential candidates out of a hat

Article Abstract:

Headhunters mainly uses two techniques to seek out candidates, desk research involving the use of directories, and sourcing. A good headhunter will undertake further checking and sourcing before deciding to make contact. It is important to network with the right people, and networks can be useful advice centres. Other ways of getting noticed include speaking at conferences, writing articles in journals or developing and implementing innovative ideas.